GBPSGD Forecast highlights:
- SGD trades at the lower band against GBP (around 1.700)
- Deteriorating macro/energy supply makes the outlook uncertain
- GBPSGD is attempting to find support to affirm the channel pattern
How has GBPSGD performed recently
While frenetic activities are flaring up across the equity and energy markets, the cross fx rate – GBPSGD – continues to trade in a relatively calm manner.
As seen below, the rate has been locked in a grinding pattern since last March. Prices sagged to the lower side (1.700), rebounded back up to 1.740, and slowly inched lower again, Repeat this multiple times and we have the downward-sloping channel pattern (see below). Â Currently prices are trading at the lower side at 1.700.
What next? Accordingly, the rate is expected to drift northwards from the support trendline (SGD weaker). But global economic uncertainty is about to expand uncontrollably due to surging energy prices. This may dent SGD’s short-term outlook given the reliance of its domestic economy to global trade flows.
But this scenario is not set in stone. The volatile situation in the Middle East may calm down (TACO) and this may lead to continuation of the channel pattern.
Is it a good time to buy GBP?
Yes, as Sterling has been weakening against SGD for some weeks. The rate below 1.710 was last seen in November.
So if you miss this turn, prices may rebound and you’d probably have to wait until the summer to buy Sterling below 1.710.
Of course, prices may continue to stay low here due to the unfolding situation in the Gulf. Therefore, GBP buyers may split the transactions; acquire some now and watch to buy more at/below 1.700.
Will the Singapore Dollar get stronger against GBP?
The SGD has been trading in a range against GBP, despite the stronger-than-expected domestic economy.
In the last quarter of 2025, for example, the Singapore economy actually grew by an impressive 6.9% year-on-year. In comparison, UK economy expanded by just 0.1%, a huge laggard in economic performance.
But S’pore’s achievement was far above expectations, as the median 4Q forecast was below 4%. As a result of this wide disparity, economists have upped their expectations.
In the first quarter of 2026, the Singapore economy is expected to expand by more than 5.8% (median, see below). This is the highest quarterly forecast since 2021.
Will the economy perform as expected?
A ‘Black Swan’ event in the Middle East is wrecking forecasts. At the time writing (19 March), crude oil and natural gas prices have more than doubled in a month. This is surpassing previous expectations and its impact on Asian economies is very severe.
One economic analyst observed:
The Iran War is causing energy chaos in Asia…..China is the world’s biggest oil importer – it imports significant amounts of oil from Iran as well as Venezuela, which is no longer an option for Beijing – and other major Asian economies like Japan, Singapore, Taiwan, South Korea, India, and Thailand are almost completely dependent on foreign oil. In 2024 alone, 84% of the oil and 83% of the liquified natural gas (LNG) shipped through the Strait was bound for Asia.
Therefore, if energy prices stay elevated, we could see economic growth grinds to a halt in the region. S’pore Dollar will be impacted by these macro forces.
But it is hard to quantify the impact on GBPSGD Â at this point. High energy prices will hit both economy hard and it will be a battle of “who is economically weaker at $150 oil”. In the last energy maelstrom back in 2022, GBP was certainly the weaker party.
For now, I will stick to the above chart pattern and anticipate GBPSGD to trade around 1.690-1.720 for the time being.
Source: MAS Survey (Mar 2026)Â
What is the GBPSGD forecast in weeks?Â
The domestic banking institution OCBC has generated some forecasts for GBPSGD. The cross rate is expected to trade around 1.75 this quarter (1Q) and gradually appreciates over the next few quarters (see below).
These projections perhaps fit the channel pattern in GBPSGD.
However with the fast-moving events taking place the energy markets, these projections may be rendered somewhat obsolete in the weeks ahead. I ‘d pay more attention to the daily pricing for the moment.
Source: OCBC (16 March 2026)
Jackson is a core part of the editorial team at GoodMoneyGuide.com.
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Previously, Jackson was the director of Stockcube Research as Head of Investors Intelligence. This pivotal role involved providing market timing advice and research to some of the world’s largest institutions and hedge funds.
Jackson brings a huge amount of expertise in areas as diverse as global macroeconomic investment strategy, statistical backtesting, asset allocation, and cross-asset research.
Jackson has a PhD in Finance from Durham University and has authored over 200 guides for GoodMoneyGuide.com.
